Yanlord, Ying Li Q1 profits surge
CHINA property developers Yanlord Land Group and Ying Li International Real Estate both posted a surge in first-quarter earnings.
Ying Li's net profit attributable to shareholders was 33.7 million yuan (S$6.8 million), more than quadruple the 7.7 million yuan a year earlier.
Its revenue jumped 170.2 per cent to 279.7 million yuan due mainly to revenue recognition upon the handover of residential units in Block 3, 4, 5 and retail units of the Ying Li International Plaza project.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Kraft Heinz misses sales estimates as higher prices deter customers
Marriott boosts full-year profit view after mixed Q1 results
J&J advances US$6.48 billion settlement of talc cancer lawsuits
US holds quarterly debt sale steady, starts buybacks this month
US dollar nears six-month high after pre-Fed data shock, yen steady
KFC parent Yum reports surprise drop in global same-store sales on weak demand